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Tiny Porter beats out Air Canada for Toronto slots

Regional carrier Porter Airlines has won another 16 takeoff and landing slots at Toronto's downtown airport, beating out a rival application from Air Canada (AC.B-T), the country's biggest airline.

ACL, a UK-based company specializing in airport slot allocation, selected Porter to take the slots at the Billy Bishop Toronto City Airport, Geoff Wilson, president and chief executive of the Toronto Port Authority (TPA) said in a statement.

The TPA is a federal agency that owns and operates the island airport, which is minutes from Toronto's financial center and a convenient hub for business travelers.

The 16 slots were originally awarded to Continental Airlines, which gave them up when it merged with United to form United Continental Holdings (UAL-N).

Air Canada and the much smaller Porter were the only bidders for the vacant slots, Wilson said.

Porter, a closely held regional airline that operates in Eastern Canada and into the United States, had a monopoly on flying out of Billy Bishop Airport until May when Air Canada launched services there.

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